The first energy from Stage 1 of TagEnergy’s 1333MW Golden Plains Wind Farm has been delivered to Victoria’s electricity grid, with Stage 2 securing new investment.
The first turbines have started spinning at the 756MW Stage 1 of TagEnergy’s $4 billion mega-project, which is expected to eventually deliver nine per cent of Victoria’s energy – enough to power 765,000 homes, or every home in regional Victoria.
The first power export followed 20 months of construction by a workforce of more than 400 across civil, electrical, turbine and grid connection works. The project’s engineering, procurement and construction partner, Vestas, is supplying and installing all 215 turbines, which stand 149m high with 79m blades.
TagEnergy CEO, Franck Woitiez, said, “TagEnergy’s ambition is to accelerate the energy transition and that is what we have done today as Golden Plains Wind Farm starts sending electricity to the grid and providing clean power to the people of Victoria. I am proud of, and grateful to, our team and project partners whose dedication and expertise is helping to safely and efficiently deliver this vital project that will strengthen Victoria’s energy security, put downward pressure on power bills and abate carbon emissions to keep us on track for net zero.
“Throughout the project’s development, we were buoyed by the confidence those at the forefront of the energy transition showed in TagEnergy’s ability to deliver large-scale renewables projects, from our lenders to the Victorian and Australian Governments and the Australian Energy Market Operator.
“We will continue to innovate to deliver more projects to speed the transition, and the Government’s supportive policy landscape will facilitate that.”
Snowy Hydro Chief Commercial Officer, Gordon Wymer, said, “We are proud to be partnering with TagEnergy and together, playing an important role in supporting the renewable energy transition.
“Snowy Hydro’s contracted wind and solar energy portfolio continues to expand, helping us to provide clean and cost-effective renewable energy to homes and businesses across the market. This is a win for our customers and Australia’s renewable energy transition.”
Construction on the project’s 577MW Stage 2 commenced in June 2024 after reaching financial close and is expected to be completed in mid-2027.
In September 2024, EnergyAustralia entered into a landmark ten-year renewable power purchase agreement (PPA) with TagEnergy to offtake 40 per cent of Stage 2’s capacity,
Ingka Investments has also announced its second investment in the project, taking a 15 per cent stake in Stage 2.
The investment continues the partnership between the two organisations, which saw Ingka Investments secure a 15 per cent stake in Stage 1 in 2023 – its first major utility-scale renewable energy investment in Australia.
Ingka Investments’ second investment in Golden Plains Wind Farm is another significant step in its strategic priority to secure long-term access to renewable energy in IKEA Retail countries in Asia. Similar to its pro-rata ownership stake in Stage 1, Ingka Investments can claim up to 15 per cent of Stage 2’s electricity and renewable energy output and use it to reduce its local climate footprint.
Ingka Investments Head of Renewable Energy, Frederik de Jong, said, “Our 15 per cent stake in Golden Plains Wind Farm Stage 2 highlights our dedication to securing renewable energy for IKEA retail countries and advancing sustainability goals.”
“This move comes as we are accelerating our investments in renewable energy and circularity to support Ingka Group’s climate-science-based targets and commitment to reach net zero by 2050. It also strengthens our ability to support value chain partners with renewable energy solutions, promoting a sustainable future for all. As a country, Australia has an ambitious renewable energy target and we are proud that this investment can also help support this goal.”
Mr Woitiez said, “We are proud to continue our partnership with Ingka Investments – a like-minded partner that shares our belief in sustainable investments with purpose and taking meaningful action to help the world reach net zero carbon emissions sooner.”
